\n
The National Labour Congress has justified why the Federal Government should consider\u00a0N<\/s>1 million as the new monthly minimum wage.<\/p>\n
The NLC President, Joe Ajaero, disclosed this in an interview on Arise Television.<\/p>\n
According to Ajaero, the new minimum wage must reflect the country\u2019s economic conditions and other economic indicators.<\/p>\n
Ajaero added that as long as the dollar keeps rising against the naira, demands for a higher minimum wage will be inevitable.<\/p>\n
He said the initial\u00a0N<\/s>200,000 minimum wage proposal is no longer tenable, citing the soaring price of food items and inflationary pressure in the economy.<\/p>\n
He said the organized Labour is meeting with the Federal Government on Monday to discuss resolutions around the strike notice issued by the NLC and Trade Union Congress, TUC.<\/p>\n
Ajaero said, \u201cThis\u00a0N<\/s>1 million may be relevant if the value of the Naira continues to depreciate; if the inflation continues to depreciate. The demand for Labour is equally dependent on what is happening in society.<\/p>\n
\u201cYou will remember that by the time we contemplated\u00a0N<\/s>200,000, the exchange rate was about\u00a0N<\/s>900. Today, the exchange rate is about\u00a0N<\/s>1,400 or even more.<\/p>\n
\u201cThose are the issues that determine the demand, and they are equally affecting the cost of living, and we have always said that our demand will be based on the cost of living index.<\/p>\n
\u201cYou\u2019ll agree that a bag of rice is about\u00a0N<\/s>60,000 to\u00a0N<\/s>70,000. Foodstuff is getting out of reach. Now, will we get a minimum wage that is insufficient for transportation, even for one week?<\/p>\n
\u201cWe have to factor in all these issues. And that will determine the Federal government\u2019s commitment to these negotiations,\u201d he said.<\/p>\n
Recall that organized Labour issued a 14-day nationwide strike notice last week.<\/p>\n
President Bola Ahmed Tinubu\u2019s administration, however, appealed to workers not to embark on a strike over the country\u2019s economic condition.<\/p>\n","protected":false},"excerpt":{"rendered":"
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